Office design outlook 'good for 2010'

Office design news from Morgan Lovell

Published on 11-02-2010

The outlook for the UK commercial property market looks good for the year ahead, a new report by Savills has claimed.

According to the firm's Development Activity report, 23 per cent of developers expect to see increased modern office design projects in 2010, with just nine per cent predicting a fall in output.

Mattt Oakley, head of Savills commercial research department, said: "Developers remain optimistic about the future and refurbishment activity - which is often a pre-cursor to a pick-up in development starts - continues to grow."

He added, however, that lender caution and leasing volatility could mean the coming months are bumpy for developers, to say the least.

Elsewhere, CB Richard Ellis's 2009 Office Market Review recently revealed Manchester was one of the best cities for office uptake in the last year.

It showed the city saw 830,000 sq ft of office lettings throughout the year, while demand for quality stock is likely to remain positive in 2010.

Posted by Adrian Norman.